Economy News

India could become a digital colony, warns Mohandas Pai

PTI | November 20, 2016 6:24 PM

With China and the US pumping in massive foreign capital into India's digital economy, a top Indian investor and educationist has warned that the country could become a "digital colony" unless Indian businesses start investing in it.

Demonetisation: GHMC tops in tax collections among 22 cities

PTI | November 21, 2016 12:30 AM

Greater Hyderabad Municipal Corporation (GHMC) has topped in tax collections among 22 cities in the country by collecting around Rs 190 crore with people paying their property tax and other utility bills with the demonetised Rs 500 and Rs 1,000 notes.

GST: Consensus eludes on jurisdiction over assessees

PTI | November 20, 2016 4:36 PM

Mining sector can add $70 billion to India's GDP in next 15 yrs: CII

PTI | November 20, 2016 2:33 PM

Slow progress in commissioning private sector hydro power projects

PTI | November 20, 2016 12:03 PM

Plan to double airports in 2-3 years: Jayant Sinha

PTI | November 20, 2016 1:53 PM

Nirmala Sitharaman to discuss impact of demonetisation with exporters

PTI | November 20, 2016 11:46 AM

Cost of demonetisation: FY17 GDP to take 40 bps hit, says Icra
PTI | November 21, 2016 11:11 PM
Indian economy is expected to slow by at least 40 bps to 7.5 per cent for the full financial year due to the demonetisation drive, which is likely to create a lull in consumption-oriented sectors in the short term, rating agency Icra said today.
PFRDA mulls up to 10-time hike in commission for fund managers
PTI | November 21, 2016 10:19 PM
Pension fund regulator PFRDA is planning to increase the commission for pension fund managers by 10 times to 0.1 per cent from the present 0.01 per cent, a top official said today.
Demonetisation impact to linger till Q2 of next fiscal: Nomura
PTI | November 21, 2016 7:53 PM
The economy would stabilise in the March quarter, but the heavy impact of demonetisation means growth can accelerate only in the second quarter of the next financial year, says a report.
Demonetisation: As the policy implementation is about to complete its 2nd week, here’s how much a common man is affected
FE Online | November 21, 2016 6:50 PM
With the implementation of the demonetisation policy about to complete second week, ‘never-ending’ queues of cash-starved people still continues outside banks and ATMs.
Exporters seek higher cash withdrawal limit: Nirmala Sitharaman
PTI | November 21, 2016 6:19 PM
Worried over the impact of demonetisation of high value notes on production chain, Commerce Minister Nirmala Sitharaman today assured exporters that she would take up their demand of increasing the cash withdrawal limit…
Demonetisation: Here is what worries Anand Mahindra
FE Online | November 21, 2016 5:29 PM
Anand Mahindra has said that demonetisation is a very bold move which everyone should respect.
RBI sets rupee reference rate at 68.2575 against US dollar
PTI | November 21, 2016 3:35 PM
The Reserve Bank of India today fixed the reference rate of the rupee at 68.2575 against the US dollar and 72.3530 for the euro.
Rajasthan industries staring at Rs 1 lakh crore loss, says Forti
PTI | November 21, 2016 3:02 PM
Rajasthan industries may lose approximately Rs 1 lakh crore in two months following the Centre’s move to demonetise high-value notes, State Forti said.
Demonetisation: RBI allows Rs 50K per week withdrawal from overdraft accounts
FE Online | November 21, 2016 3:34 PM
The recent enhanced withdrawal limit is not applicable for personal overdraft accounts and the withdrawal may be further disbursed in Rs 2,000 denomination bank notes.
Insolvency, Bankruptcy Code may help unlock NPAs worth Rs 25k crore over next five years: ASSOCHAM
ANI | November 21, 2016 2:07 PM
Effective implementation of the Insolvency and Bankruptcy Code, 2016 can potentially release about Rs. 25,000 crore capital currently locked up in non-performing assets (NPAs) over next four to five years, noted a recent ASSOCHAM-Crisil joint study.
Indore Patna Express derails: Here’s why Indian Railways must induct Rajdhani Express-type LHB coaches
FE Online | November 21, 2016 1:15 PM
A reason behind the high casualties in Sunday’s accident is that the Indore-Patna Express had ICF coaches, which are known for piling up in case of accidents.
Demonetisation ‘havoc’: Bankers’ union leader asks for RBI Governor’s resignation
FE Online | November 21, 2016 11:15 AM
Accusing RBI Governor Urjit Patel of creating ‘havoc’ in the Indian economy because of an unprepared decision to demonetise high-value currency, senior vice president of All India Bank Officer’s Confederation (AIBOC), D Thomas Franco, said that Patel should take moral responsibility for the issue and the several deaths, which include 11 bank officers in the last twelve days.
NHAI terminates Samrala Chowk, Kishangarh-Udaipur-Ahmedabad projects
Shubhra Tandon | November 21, 2016 6:22 AM
With lenders doubtful over the completion of Samrala Chowk and Kishangarh-Udaipur-Ahmedabad (KUA) Package VI projects, the National Highways Authority of India (NHAI) has terminated the ventures, sources confirmed to FE.
Power politics hits GST post Centre’s demonetisation move
FE Bureau | November 21, 2016 6:22 AM
With the banknote crisis sharpening the political divide, the Centre and states on Sunday virtually refused to move an inch from their stated positions on the separation of administrative powers in the proposed Goods and Services Tax (GST) regime.
Good news for India over critical fiscal deficit target
Prasanta Sahu | November 21, 2016 6:21 AM
Tax revenue of the Centre, after the mandatory transfer to states, is expected to exceed the Budget target by at least R 50,000 crore, or close to 5%, during the current fiscal, helping the government meet the fiscal deficit target of 3.5% of the gross domestic product rather easily.
GST will help India Inc go digital: SAP Lab’s Neeraj Athalye and Arun Subramanian
Sudhir Chowdhary | November 21, 2016 6:10 AM
The newly introduced goods and services tax (GST) is India’s most significant tax reform in decades. It is expected to usher in a harmonised national market for goods and services and lead to a simplified, assessee-friendly tax administration system. But getting GST compliant for businesses may mean significant re-thinking of business processes and systems. What […]
Infrastructure: How Sagarmala project can be a shot in the arm for the economy
Surya Sarathi Ray | November 21, 2016 6:05 AM
Ranked a lowly 35th on the World Bank’s Logistics Performance Index (LPI) in 2016, India is an inefficient place as far as logistics is concerned, with the extant system falling far short of international standards in terms of costs, efficiency, sustainability, and safety.
Demonetisation: GHMC tops in tax collections among 22 cities
PTI | November 21, 2016 12:30 AM
Greater Hyderabad Municipal Corporation (GHMC) has topped in tax collections among 22 cities in the country by collecting around Rs 190 crore with people paying their property tax and other utility bills with the demonetised Rs 500 and Rs 1,000 notes.
As demonetisation and Donald Trump hit markets, period of volatility, shocks starts
Anindya Banerjee | November 20, 2016 10:31 PM
Two major events have unfolded over the past twelve days– one, the decision on demonetization and other, election of anti-establishment candidate, Donald Trump.
Reserve Bank of India dispels rumours of fake Rs 10 coins in circulation
PTI | November 20, 2016 8:51 PM
Dispelling rumours of fake Rs 10 coin in circulation, RBI today asked people not to give credence to such canards and continue to accept these coins as legal tender in all their transactions without any hesitation.
India could become a digital colony, warns Mohandas Pai
PTI | November 20, 2016 6:24 PM
With China and the US pumping in massive foreign capital into India’s digital economy, a top Indian investor and educationist has warned that the country could become a “digital colony” unless Indian businesses start investing in it.
GST: Consensus eludes on jurisdiction over assessees
PTI | November 20, 2016 4:36 PM
The Centre and states today failed to reach a consensus on who will control which set of assessees under GST.
‘Cement sector may see 15-20% demand drop post demonetisation’
PTI | November 20, 2016 2:48 PM
Post currency demonetisation, the cement sector is likely to witness 15-20 per cent demand drop until December 2016 and subdued 3 per cent growth in the fourth quarter of this fiscal, a report said.
Mining sector can add $70 billion to India’s GDP in next 15 yrs: CII
PTI | November 20, 2016 2:33 PM
A vibrant mining sector has the capacity to spur growth and add up to $70 billion to the country’s economy as well as generate 60-70 lakh jobs, a report by industry body CII said.
Plan to double airports in 2-3 years: Jayant Sinha
PTI | November 20, 2016 1:53 PM
The Union government plans to double the number of airports in the country over the next two to three years to serve the largely untapped domestic aviation industry which has seen an increase in passengers, Minister of State for Civil Aviation, Jayant Sinha has said.
Slow progress in commissioning private sector hydro power projects
PTI | November 20, 2016 12:03 PM
Indicating slow progress in commissioning of hydro power projects by the private sector, only 3,269 megawatts of capacity has been operationalised so far out of the overall plans for 38,039 MW across the country.
Software services exports from STP units up 9% to Rs 3.2 lakh crore
PTI | November 20, 2016 11:59 AM
Exports of IT software services from units under the government’s Software Technology Parks (STP) scheme is estimated to have grown by nearly 9 per cent to Rs 3.19 lakh crore in 2015-16.

Horoscope: By Peter Vidal

Today ( 22 Nov )This Week ( 20 Nov - 26 Nov )

SAGITTARIUS Certain proposals must be left on ice for a little while, at least until you have had time to digest what partners have said and done. You must continue to discuss your plans and proposals in as… read more

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